Wednesday, December 24, 2014

Despite
the long-held idea that winter is the slow season for residential real
estate, new data based on a two-year study by Redfin shows that December
through March could actually be the prime window for selling your home –
and selling it quickly for more than your asking price. Surprisingly,
Redfin says that February is the month to list if you’re looking to sell
fast, as 66 percent of homes listed in February have historically sold
in 90 days or fewer. Hoping for a multiple-offer situation that nets you
more than your listing price? Try December. In 2012, the month of
December saw the highest percentage of sales fetching prices over asking
for the whole year. Redfin found that in many cities, including
Seattle, sellers are most likely to sell their homes within 180 days if
they list in the winter.
So, why, after years of preaching spring and summer as home-run
months for sellers, has the tide turned toward winter? Nela Richardson,
chief economist for Redfin, lists a couple of reasons why listing in the
winter can work to your advantage. She stated in an article that while
there may be fewer people overall shopping for homes in the winter, the
ones who are out there looking are serious buyers. People who are
casually searching for a home are most likely not going to brave the
cold weather or disrupt busy holiday schedules to attend multiple open
houses, so sellers are left with only the most motivated buyers.
Similarly, since summer has historically been considered the
blockbuster season for selling, winter sellers generally have less
competition. Those who are nervous about letting their home sit on the
market all winter may pull it off the market, leaving one less home to
compete with yours. So, if you’re planning on selling your home but were
holding off on listing it until warmer months, it could be worth moving
up your timeline to get it on the market sooner. If you are interested
in selling your home in the Seattle area, contact your local real estate agent today!